Research on plasmons of gold nanoparticles has gained broad interest in nanoscience. However, ultrasmall sizes near the metal-to-nonmetal transition regime have not been explored until recently due to major synthetic difficulties. Herein, intriguing electron dynamics in this size regime is observed in atomically precise Au333(SR)79 nanoparticles. Femtosecond transient-absorption spectroscopy reveals an unprecedented relaxation process of 4-5 ps-a fast phonon-phonon relaxation process, together with electron-phonon coupling (∼1 ps) and normal phonon-phonon coupling (>100 ps) processes. Three types of -R capped Au333(SR)79 all exhibit two plasmon-bleaching signals independent of the -R group as well as solvent, indicating plasmon splitting and quantum effect in the ultrasmall core of Au333(SR)79 This work is expected to stimulate future work on the transition-size regime of nanometals and discovery of behavior of nascent plasmons.